MyLab Statistics for Business Stats with Pearson eText -- Standalone Access Card -- for Statistics for Business and Economics
13th Edition
ISBN: 9780134748610
Author: James T. McClave, P. George Benson, Terry Sincich
Publisher: PEARSON
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Chapter 14.2, Problem 14.21ACI
OPEC crude oil imports. The data in the table below are the amounts of crude oil (millions of barrels) imported into the United States from the Organization of Petroleum Exporting Countries (OPEC) for the years 1995–2015.
| Year | t | Imports Yt |
| 1995 | 1 | 1544 |
| 1996 | 2 | 1541 |
| 1997 | 3 | 1668 |
| 1998 | 4 | 1790 |
| 1999 | 5 | 1808 |
| 2000 | 6 | 1904 |
| 2001 | 7 | 2018 |
| 2002 | 8 | 1681 |
| 2005 | 9 | 1884 |
| 2004 | 10 | 2086 |
| 2005 | 11 | 2039 |
| 2005 | 12 | 2014 |
| 2007 | 13 | 2183 |
| 2000 | 14 | 2179 |
| 2009 | 15 | 1743 |
| 2010 | 16 | 1791 |
| 2011 | 17 | 1663 |
| 2012 | 18 | 1563 |
| 2013 | 19 | 1358 |
| 2014 | 20 | 1181 |
| 2015 | 21 | 1058 |
a. Construct two exponentially smoothed series for this time series, using w = .1 and w = .9.
b. Plot the original series and the two smoothed series on the same graph. Which smoothed series looks more like the original series? Why?
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Chapter 14 Solutions
MyLab Statistics for Business Stats with Pearson eText -- Standalone Access Card -- for Statistics for Business and Economics
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